Investment by African Seed Investment Fund.
FICA Uganda is one of the largest seed businesses in Uganda. Founded in 2001, after the Ugandan seed industry was liberalized, it was the pioneer of privately-owned seed companies in Uganda. With 3 substantial farms and a large processing facility located in Masindi, FICA has the potential to produce 10,000 MT of seed per annum. FICA also works with more than 500 out growers to produce seed.
Our investment has helped the business to repay its major lender on schedule and provided it with sufficient working capital to increase seed production from about 1,000 MT to 3,000 MT per annum, thereby returning to profitability. We expect the business to grow further and improve the utilization of its asset base.